Niko Resources Completes 6th Well on Surat Field

Niko Resources Ltd. has completed testing of NS-4, the sixth well drilled on the Company's Surat Block onshore India. A commingled cased hole drill stem test over three 5-meter intervals, between 199 and 233 meters, flowed 2.66 mmcf/d. NS-4 marks the fourth gas discovery on the Surat Block and further defines a large structural closure of 15 square kilometers in extent. Plans are well underway for a multi-well appraisal drilling program to start immediately upon regulatory approval.

The Company is pleased to announce that its share of daily production at Hazira reached a record high of 43 mmcf/day on February 17th, 2003.